The composite index of Leading Economic Indicators was up 0.6% in October following a 0.1% dip in September, first reported as a 0.2% slide, the Conference Board reported Thursday.
The coincident index gained 0.2% in October after a revised 0.1% rise in September, first reported as a 0.2% increase, while the lagging index grew 0.2% after a revised 0.6% rise in September, first reported as a 0.5% gain.
The LEI stands at 124.1, the coincident index is at 113.0 and the lagging index is at 119.3 The LEI has a baseline of 100, which reflects the level in 2010.
"The U.S. LEI rose sharply in October, with the yield spread, stock prices, and building permits driving the increase," said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. "Despite lackluster third quarter growth, the economic outlook now appears to be improving. While the U.S. LEI's six-month growth rate has moderated, the U.S. economy remains on track for continued expansion heading into 2016."
